efaq: Problems with Shell Mode

 
 6.3 Why do I get an error message when I try to run ‘M-x shell’?
 ================================================================
 
 This might happen because Emacs tries to look for the shell in a wrong
 place.  If you know where your shell executable is, set the variable
 ‘explicit-shell-file-name’ in your ‘.emacs’ file to point to its full
 file name.
 
    Some people have trouble with Shell Mode on MS-Windows because of
 intrusive antivirus software; disabling the resident antivirus program
 solves the problems in those cases.